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Monday, 04 June 2012

A meaningful difference in terms of development

According to the South African Trade and Industry Minister, Rob Davies, facing key challenges can make a meaningful difference in terms of growth and development in Africa. An inadequate infrastructure, small and fragmented markets, as well as insufficient diversification of industrial output are part of the homework that Africa must soon address and development actors should support. He recalls that the average growth of the African continent was estimated to be 5.8 percent and that was in contrast with the European Union, which has gone into recession.
Speaking of growing economies in the world, as six of today’s ten fastest growing economies are located on the African continent, he stated that "after Asia, the African continent is increasingly widely recognised as the next growth frontier and dynamic business people can no longer afford not be involved in it. "
In his opinion, the answer lies in the promotion of a developmental regional integration agenda and industrialisation.

Source: All Africa